by The finger splint market encompasses various splint products such as aluminum finger splints, neoprene finger splints, and thermoplastic finger splints that provide support, immobilization, and protection to fingers. Finger splints are used to treat conditions like fractures, sprains, dislocations, trigger fingers, De Quervain’s tenosynovitis, and mallet fingers. The splints immobilize injured or swollen fingers and enhance healing by preventing movement. Advantages of finger splints over casting include lower cost, easy application and removal, washability, and breathability.
The Global Finger Splint Market is estimated to be valued at US$ 285.5 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Finger Splint Market are 3M, BSN Medical, Patterson Medical, DJO Global, Zimmer Biomet, Stryker, Smith & Nephew, Mueller Sports Medicine, Brownmed, Össur, Mabis Healthcare, Acu-Life (Health Enterprises, Inc.), Alimed, DeRoyal Industries, Orfit Industries, Tynor Orthotics Private Limited, Sam Medical Products. The growing geriatric population and rising incidences of sports injuries and accidents are fueling demand for finger splints. Major players are expanding their business globally with new product launches and mergers and acquisitions to strengthen their market presence.
Growing demand: The increasing prevalence of arthritis and other finger injuries is driving the Finger Splint Market Size across the world. As per estimates, over 54 million adults in the US have been diagnosed with some form of arthritis leading to substantial usage of finger splints. Additionally, the growing sports participation is increasing hand and finger injuries necessitating immobilization products like splints.
Global expansion: Key players are focusing on emerging markets for further expansion. For instance, 3M has established its presence in over 70 countries worldwide. Similarly, DJO global acquired orthopedic business of Colfax to expand in South America and Asia Pacific. Manufacturers are introducing affordable and customized splints to tap opportunities in developing nations.
Market key trends
Finger Splint Market Size and Trends is the increasing adoption of 3D printing technology. 3D printing enables production of customized splints conforming to the exact shape and size of individual fingers. This improves comfort, immobilization, and healing outcomes. Several companies like mueller sports medicine have incorporated 3D printing to personalize splint designs. The technology allows cutting wastage and lowering production costs as well. With advancements in 3D printing, the technology is expected to transform splint manufacturing leading to its enhanced usage.
Porter’s Analysis
Threat of new entrants: Low capital requirement however existing players have strong brand value and distribution channels which act as barriers.
Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of substitute products; however, brand loyalty plays a role.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Substitute products like wrist support splints, taping, and padding pose low to moderate threat.
Competitive rivalry: Intense competition among existing players to increase market share.
Geographical Regions
North American region holds majority of the market share in terms of value, primarily due to supportive reimbursement policies and awareness regarding benefits of finger splints. Asia-Pacific region is fastest-growing market owing to improving healthcare infrastructure, increasing medical tourism, and rising geriatric population susceptible to osteoarthritis.
Geographical Regions
The Europe region dominates the finger splint market in terms of value, mainly due to growing ageing population suffering from arthritis, favorable reimbursement scenario, and presence of key product manufacturers. Latin America is poised to witness fastest growth during the forecast period, creditable to increasing cases of hand injuries among sports professionals and rising medical device awareness in the region.
About Author - Ravina Pandya
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
